Can I Switch from Leasing My Car to Financing It?

Leasing a car can be great. For one thing, it may be a cheaper option compared to buying. It also lets you try out a new or different model every time your lease ends.

But, if you’ve had a Maserati lease for a while and would rather own your car than have to turn it in, you do have that choice. There are two ways to stop leasing.

Option A: Let the Lease Expire

Perhaps the easiest way to stop leasing a vehicle and start financing it is to just wait for the lease to come to an end. When this happens, you’ll be able to negotiate a price with the dealership and then take out a loan if necessary to cover any remaining costs.

Option B: Take the Lease Buyout

If you don’t want to wait until your lease expires, you should have a buyout option that will let you end it early. It’s important to remember that there will be an early termination fee that you will need to pay. You may also be on the hook for any lease payments that remain.

Should You Take the Lease Buyout?

If you love your car and want to own it and can still manage the monthly lease payments, waiting until the lease agreement ends is probably the smartest idea.

If, however, you want to stop leasing for financial reasons, you’ll want to find out how much your monthly payments will be if you finance. If they are a lot lower, it could make the most sense to take the buyout.

If you have questions about leasing or financing, get in touch with the team at Helfman Maserati of Houston.